BofA notes that Immunovant announced “favorable” topline results from its Phase 1 study evaluating safety and pharmacokinetic/pharmacodynamic attributes of IMVT-1402, the company’s next-gen anti-FcRn. The results, which the firm says “were positive on all aspects,” including the SAD portion plus earlier than expected readout of the middle dose arm of the MAD portion, “further establishes” the competitive profile of IMVT-1402, which combines potency with “potentially best-in-category subQ dosing,” the analyst tells investors. BofA reiterates a Buy rating on Immunovant with a $29 price target on the shares, which are up $11.88, or 59%, to $32.16 in pre-market trading.
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